Alexandria Real Estate Equities (NYSE:ARE) Sets New 52-Week High Following Analyst Upgrade

Alexandria Real Estate Equities, Inc. (NYSE:ARE)’s share price hit a new 52-week high during trading on Friday after BTIG Research raised their price target on the stock from $187.00 to $233.00. BTIG Research currently has a buy rating on the stock. Alexandria Real Estate Equities traded as high as $209.76 and last traded at $208.24, with a volume of 672305 shares. The stock had previously closed at $206.56.

A number of other equities research analysts have also recently commented on ARE. Royal Bank of Canada lifted their price objective on Alexandria Real Estate Equities from $205.00 to $222.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 17th. BMO Capital Markets lifted their target price on Alexandria Real Estate Equities to $20.00 and gave the stock a “market perform” rating in a report on Monday, July 26th. Mizuho reiterated a “buy” rating and set a $200.00 target price on shares of Alexandria Real Estate Equities in a report on Wednesday, July 14th. Finally, JMP Securities lifted their target price on Alexandria Real Estate Equities from $200.00 to $210.00 and gave the stock a “market outperform” rating in a report on Monday, July 12th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $179.83.

In other news, Director John H. Cunningham sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 28th. The stock was sold at an average price of $198.75, for a total value of $1,590,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Marc E. Binda sold 5,230 shares of the company’s stock in a transaction that occurred on Wednesday, July 28th. The shares were sold at an average price of $200.00, for a total value of $1,046,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,538 shares of company stock worth $19,454,703. Company insiders own 1.12% of the company’s stock.

Several hedge funds have recently modified their holdings of ARE. Quadrant Capital Group LLC lifted its stake in Alexandria Real Estate Equities by 10.7% during the second quarter. Quadrant Capital Group LLC now owns 526 shares of the real estate investment trust’s stock worth $96,000 after purchasing an additional 51 shares during the last quarter. Security National Bank lifted its stake in Alexandria Real Estate Equities by 0.4% during the third quarter. Security National Bank now owns 13,074 shares of the real estate investment trust’s stock worth $2,498,000 after purchasing an additional 56 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in Alexandria Real Estate Equities by 28.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 259 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 58 shares during the last quarter. Private Capital Group LLC lifted its stake in Alexandria Real Estate Equities by 20.7% during the third quarter. Private Capital Group LLC now owns 344 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 59 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. lifted its stake in Alexandria Real Estate Equities by 8.7% during the second quarter. C M Bidwell & Associates Ltd. now owns 834 shares of the real estate investment trust’s stock worth $152,000 after purchasing an additional 67 shares during the last quarter. Institutional investors and hedge funds own 88.85% of the company’s stock.

The company has a market capitalization of $31.73 billion, a P/E ratio of 31.84, a PEG ratio of 3.45 and a beta of 0.73. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.55. The stock has a 50 day moving average price of $200.47 and a 200 day moving average price of $189.84.

Alexandria Real Estate Equities (NYSE:ARE) last announced its quarterly earnings results on Sunday, July 25th. The real estate investment trust reported $2.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $1.98. Alexandria Real Estate Equities had a return on equity of 6.46% and a net margin of 45.83%. During the same period in the previous year, the business posted $1.82 earnings per share. On average, research analysts predict that Alexandria Real Estate Equities, Inc. will post 7.78 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 15th. Stockholders of record on Thursday, September 30th were paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Wednesday, September 29th. Alexandria Real Estate Equities’s payout ratio is 61.37%.

Alexandria Real Estate Equities Company Profile (NYSE:ARE)

Alexandria Real Estate Equities, Inc is an urban office real estate investment trust. It engages in the ownership, operation, development, and redevelopment of life science and technology properties. The firm also provides a space for lease to the life science and technology industries, which are primarily located in AAA urban innovation cluster locations.

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